Pittsburgh School District Upgraded to A by S&P

Standard & Poor's Ratings Services said it raised its underlying rating on Pittsburgh School District, Pa.'s general obligation bonds to A from A-minus.

The outlook is stable.

"We base the upgrade on the district's consistently strong financial performance, strong management policies and practices, and ability to maintain very strong fund balance, despite ongoing property tax appeals, and declining enrollment," said Standard & Poor's credit analyst Apple Lo.

At the same time, Standard & Poor's assigned its A program rating and A underlying rating, and stable outlook to the district's series 2015 GO bonds.

Standard & Poor's also affirmed its A program rating, with a stable outlook, on the district's existing GO debt.

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